corporations only serve to make money for their shareholders... they have no allegiance to the country, the people, the enviroment or the free market. every corpo at all times strives to become a monopoly and crush all competition to increase the money for the shareholders. you dont need to be an economist to understand that this is in no way sustainable and it will lead to instabilty and crashing the market. it always has... it always will... taxes are one way to regulate these exploits and protect the state and the population from corporations.
@justanothername It's funny how people that hate corporations, do not see that their own 401k's, Roth IRA's, etc. also make money from successful corporations. Or are we to believe that only the poor and destitute, hate corporations? Or maybe, just maybe, these goofballs are slamming the profits of corporations, that they also benefit from. The left would rather force companies off shore, it seems like.
[u]Corporations should be required to pay their fair share of taxes[/u]. Off-shore tax havens and tax-dodging schemes should be made illegal. Stock buy-backs should be illegal (used to be prohibited, the Reagan administration legalized stock buy-backs in the 80s.) We the taxpayers should not be billed for corporate bailouts and subsidies. FYI - Huge parts of corporate holdings are declared non-taxable income. As a result, the super wealthy and corporations pay a much lower effective tax rate than us regular citizens. No more tax cuts for billionaires and corporations!
@DogMan Social Security and Medicare are [u]earned benefits.[/u] We pay into those programs out of our paychecks. SS and Medicare are exactly the correct role of government : meeting human needs. Both those programs should be expanded and protected.
If the company operates around the world as many big techs do then they set their offices up in a low tax country like Ireland and pay their tax in that country and hold the rest of their cash off shore. It can also depend on where the revenue was generated originally.
Raising or lowering taxes… both have down sides. If you raise them too much you risk loosing tax revenue from affected companies.
Paying a more medium sized tax rate might be a better option.
@Reason10 Working out the various tax brackets is a balancing act between collecting enough tax and leaving Americans with enough of their incone in their pockets.
@DogMan Actually corporations do NOT pay the "lion's share" of taxes. They cot a huge tax CUT in 2017. They used that cut almost entirely for stock buy-backs, which are entirely non-productive and create no new jobs.
Remember 2008, "Too big to fail"? How greedy bankers got bailed-out by us tax payers when their reckless schemes fell apart? Corporations don't support us, We, the tax-payers support them. Let's put a stop to that.
@DogMan Ok, so you finally figured what you actually asked, and now you have another question:
[quote]Could we not also say, that there would be far more money for those that need it, if able bodied people were not sucking from the same tit as those who need it?[/quote]
To a point, I would say "more money" as opposed to "far more money", primarily because you did not define what people you're talking about, and what it is what the people need it for.
For instance, there would be far more money, and I emphasize "far", if the US spent more on education and healthcare, if we stop supplying Israel with free weapons and ammunition.
[quote]If government did not waste money, we could lower taxes for all, right?.[/quote]
Generally this is true, because it's almost impossible to have an ideal government, and history has proven that there is no difference in efficiency between red and blue governments.
[quote]But the left LOVES to stick it to people that make more than they do.[/quote]
Now, this is where you go into slander land. Because every government, left or right, wastes money, and you're totally wrong when you state that the left makes less money than the right. Even a cursory examination of the actual situation, will tell you that the bulk of the money is centered in blue states, and when it's in red states, it's usually in blue spots, such as Austin and Houston.
@Northwest LOL, those blue states you speak of, also carry far more debt than red states.
And, NO! we do not need more money spent on the worthless public school system that is failing our kids, by worrying more about social justice, than education.
Isn't it enough that the Dictator in charge, has already bypassed congress, and ignored the SCOTUS, and gave more of our tax dollars to bail out college educated people, by paying off their loans?
I would like be keep up the friendly banter, but I am leaving the office now, and starting my "online free" vacation to the mountains of southern Utah.
[quote]LOL, those blue states you speak of, also carry far more debt than red states.[/quote]
Once more, facts stand in the way of your claim. And by more debt, I assume federal money.
7 of the 10 states most dependent on the federal government were Republican-voting, with the average red state receiving $1.05 per dollar spent.
Twenty-nine states sent more to the federal government than they received, compared to just nine states in 2021.
Of the states that sent more than they received, 52% were Democrat-voting and 48% were Republican-voting.
[quote]And, NO! we do not need more money spent on the worthless public school system that is failing our kids, by worrying more about social justice, than education.[/quote]
So, your forte is education? Do tell...
[quote]Isn't it enough that the Dictator in charge, has already bypassed congress, and ignored the SCOTUS, and gave more of our tax dollars to bail out college educated people, by paying off their loans?[/quote]
We don't have a Dictator. You seem to be mistaken. But it's not like you've been supplementing your arguments with facts.
[quote]I would like be keep up the friendly banter, but I am leaving the office now, and starting my "online free" vacation to the mountains of southern Utah.[/quote]
If we did not have able bodied people sucking up money from social programs, without contributing a thing. We would have more than enough to take care of those that actually need help. I am willing to bet that I pay far more taxes than any of you that WANT high taxes on others.
@DogMan And now they're voting against their own interests. They're voting to give away their money and freedom to the rich. There's something very submissive and masochistic about people who vote Republican.
What happens? The big corporations send lobbyist to wine and dine members of congress and convince them to bury exceptions and loopholes in the tax code (not to be confused with tax instructions). If that doesn't work they increase the price of their goods and/or services to make up what they lose in higher taxes. And meanwhile they close US factories and outsource production to China,
@Heartlander Yep, all the power is still in the hands of the government. They protect their friends. Corporations cannot FORCE any of us to do anything. But Governments' CAN. Why do people put so much trust in the Government?
There's no reason why the big corporations shouldn't pay their way. There are always loopholes created by any government to ensure companies can siphon off huge sums under several headings. R&D; Charity (i always laugh when I hear they have their own foundations 😁) Insurance investments etc.
What should concern people more is the concentration of economic; political and social power to maybe 5 - 10 major corporations worldwide.
More than half those concentrating social sites and media outlets in America. That means (if you're a subscriber) the only 'truth' out there is what [i]they[/i] decide to show you.
@Reason10 ....and for every tax levied at business there's always a 'get out' clause !
Create an offshore tax haven Create a 'foundation' which is often a 'charitable institution' thus tax exempt.
That particular one is currently under investigation in the UK because it's thought companies launder money through them specifically to avoid paying taxes
The intended end game is to force corporations to invest more in political contributions to members of congress and the president. Threats to raise corporate taxes turns into more free rides in corporate jets so members of congress and their families and/or special friends can enjoy wonderful vacations in exotic fun spots.
It’s not “trickle down economics” but more like “piss on economics”.
@BohemianBoo The ramifications of high taxes, only hurt the low and middle class.
Good thing the Left only wants high taxes on the rich.
I hate the fact that inflation is high, and getting worse.
Inflation is up in every country. If has nothing to do with taxes.
You're completely uneducated on this topics. This is what happens when you just believe whatever the media tells you
🤣🤣 Talk about uneducated in the business world. You actually think high taxes only INVOLVES THE RICH??? That is the most naïve thing I have heard in a while.
Dude! The media doesn't tell me about business. I LIVE IT! I have owned my company for 21 years, and ran other companies before that.
@DogMan Fair share is all I'm after. Corporations and the wealthy should pay about the same rate of taxes as the rest of us. And off-shore tax havens should be illigal. And no more corporate bail- outs and subsidies! I want my taxes to go toward domestic improvements, such as universal non- profit health care, good public schools, public transist, free job training - programs that benefit ALL the people.
FYI very poor people don't think about tax policy. They are too busy trying to survive.
P.S. While we are at it, let's cut the outrageous military budget, $858 B just for FY 2024! Cut it in half and institute a strict yearly audit on Pentagon spending. Jail crooked defense contractors who are stealing so much of the tax-payers money.
[@badminton [quote]Fair share is all I'm after.[/quote]
The top 50 percent pay 97 percent of all income taxes. Is that fair?
[quote]Corporations and the wealthy should pay about the same rate of taxes as the rest of us. [/quote]
Some of the more moderate Republicans in the late 90s referred to that as the FLAT TAX. Good look getting that pass the CLASS ENVY CROWD.
[quote] And no more corporate bail- outs and subsidies![/quote]
Good luck stopping that. The Nazi Pelosi family would be dirt poor without it.
[quote]I want my taxes to go toward domestic improvements, such as universal non- profit health care, good public schools, public transist, free job training - programs that benefit ALL the people. [/quote]
What you just described is called DISCRETIONARY SPENDING. It is that 24 percent of the federal budget where the taxpayer actually gets value for his/her dollar. This includes the cost of running government, the military, law enforcement, the court systems, education, roads and bridges.
What should REALLY PISS THE LIVING HELL OUT OF YOU is the fact that 75 percent of the federal budget is ENTITLEMENTS, which means money taken from those who produce and given to those who don't. [quote] FYI very poor people don't think about tax policy. They are too busy trying to survive. [/quote]
In other words, they don't pay taxes. They're on welfare or food stamps. Some survival. [quote] P.S. While we are at it, let's cut the outrageous military budget, $858 B just for FY 2024![/quote]
Defense is part of the Discretionary spending side of the aisle. It's where your dollars get value. Your LIBERTY, your FREEDOM, your SAFETY are bought DIRT CHEAP by money spent on the military.
As the old saying goes, "corporations don't pay taxes." It's true...or we should rephrase it to say the public pays for corporate taxes when the added cost is passed on to the consumer in higher prices for goods and services.
The higher the taxes the greater the incentive to move both production and ownership to another country. The higher the taxes the greater the incentive to make it cheaper and cheaper.
@Eternity There is a way to prevent US corporations from passing tax increases on to the consumers. It’s by the government promoting imports from China where everyone is taxed far lower than what US corporations pay in taxes. So much lower that US corporations wither and die because they can’t compete against foreign corporations. Whole US industries wither and die.
@Heartlander Why the F, can't the left understand that simple concept? Maybe the people that control what Dems think, actually WANT U.S. corporations to die, so that the Government can take them over. Dems hate corporations, but love the government.
Only one can force you to do anything, and only one, can make laws forcing you to bend to their will, and jail you if you don't comply.
@DogMan I agree, it’s like the government kills off an industry with high taxes while promoting imports from lower taxed countries, then pretends to try to bring back the industry but under government incentives and conditions. I think we see that happening in the IC chip business.
